Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 23 Jul 2016, 14:40

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Is the MAcc really worth it?

Author Message
Intern
Joined: 10 Oct 2010
Posts: 3
Followers: 0

Kudos [?]: 1 [1] , given: 2

Is the MAcc really worth it? [#permalink]

Show Tags

26 Oct 2010, 10:24
1
KUDOS
Hi,

I'm a senior about to graduate in May, 2011. I'm comtemplating about the MAcc program; however, I don't think forking another 15K in student loans is worth it. As in accounting courses, I'm trying to do the cost-benefit analysis on this decision. What made you guys apply for the MAcc program instead of heading out into the job market? I will have the necessary 150 hours for the CPA when I graduate.

Pros:
Networking Abilities for Jobs
Extra Year to study for CPA
Better references from professors.
Another Year of Accounting Experience (IRS, G-7 pay boost etc..) - Don't really know If I want to work for the IRS.

Cons:
15K+ in student loans
Opportunity cost of salary (if I find a job)
Experience of the job
SVP
Status: Burning mid-night oil....daily
Joined: 07 Nov 2008
Posts: 2400
Schools: Yale SOM 2011 Alum, Kellogg, Booth, Tuck
WE 1: IB - Restructuring & Distressed M&A
Followers: 78

Kudos [?]: 727 [3] , given: 548

Re: Is the MAcc really worth it? [#permalink]

Show Tags

26 Oct 2010, 19:12
3
KUDOS
Most people go for MAcc to meet the CPA requirement or to get a job. Since the accounting firms are one of the few employers out there, hiring graduates with little experience in large numbers, many graduates are headed to grad school to pursue MAcc (and other comparable programs)

If you don't need it to meet the CPA requirement and you have a job lined up, there is no reason to pursue the degree, really.
_________________
Intern
Joined: 20 Sep 2010
Posts: 7
Followers: 0

Kudos [?]: 5 [2] , given: 2

Re: Is the MAcc really worth it? [#permalink]

Show Tags

27 Oct 2010, 22:17
2
KUDOS
Just to expand on what nink said, if you have your hours for the CPA and have a job I see very little reason to get a masters.

If you don't have a job lined up and don't expect to find one before you graduate, then the masters is probably the better option over unemployment.

I know a few big 4 offices (and I'm just assuming you're looking at big 4 firms) give slightly higher starting salaries if you have a masters (maybe $5k higher) but this depends on the firm, the office, and the practice so it's not really something you can count on unless you know where you want to work beforehand. Not to mention$5k extra doesn't do much when you consider the factors you already listed like opportunity cost and tuition cost.

Some might argue that later on down the road the masters might look nice when you're looking at getting a different job, but the extra year of work experience (assuming you start work straight out of undergrad) could be just as, if not more valuable than the masters degree. And you can always get an MBA later on if you feel that a lack of a graduate degree is holding you back as far as job opportunities.

Bottom line, as nink suggested - if you have a job and the hours to sit for the CPA, I'd skip the MAcc.
Intern
Joined: 10 Oct 2010
Posts: 3
Followers: 0

Kudos [?]: 1 [0], given: 2

Re: Is the MAcc really worth it? [#permalink]

Show Tags

28 Oct 2010, 09:55
Thank you for responding. I need to make myself more competitive for the graduate assistantships which would solve both problems.
Re: Is the MAcc really worth it?   [#permalink] 28 Oct 2010, 09:55
Similar topics Replies Last post
Similar
Topics:
1 MAcc Questions 0 19 May 2016, 18:56
1 Is it worth 30k debt to go to a top Macc school? 2 15 Apr 2010, 16:41
1 Getting your CPA, Do you really need a MBA or MSA/MAcc? 7 24 Jul 2008, 12:17
MACC Question 3 14 Apr 2007, 13:01
MACC or MBA? 2 15 Jan 2007, 05:56
Display posts from previous: Sort by